The Office of Federal Housing Enterprise Oversight is trying to come up with its own estimate of possible losses Fannie Mae might face if the enterprise is forced to correct its accounting for derivatives.Fannie has estimated that would have to take a $9 billion loss if the Securities and Exchange Commission rules that OFHEO is right and Fannie's treatment of its derivative hedging activities over the past three years violates accounting rules. OFHEO Director Armando Falcon Jr. declined to comment on Fannie's $9 billion estimate in response to a question at a Women in Housing and Finance luncheon in Washington. "A lot of work still has to be done in assessing the full impact going backwards as well as going forwards," Mr. Falcon said. "We are working on that right now at OFHEO."
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17